An economy needs about 12% of the population to remain soul crushingly poor to avoid inflation. * Archived Message
Posted by doubledown on October 6, 2023, 9:52:54, in reply to "Yeah I guess I did fundamentally understand that was the case"
Previous Message So, ####ed up it is. Previous Message $10,000 marginal dollars to a person making $50,000 is going to contribute more to inflation than giving it to somebody making $200,000, because the lower income person is probably going to spend more of it while the higher income person is more likely to save/invest more of it. I'm in favor of rewarding labor and work and incentivizing lower income people to work with higher wages. I'm also in favor of taking the money that we've been putting into stupid shit like Uber and Instagram and instead using it to build roads, bridges, transit, and housing instead. People making $15-25/hr are going to benefit by investing in the latter both through finding work and getting something. Previous Message Over the last decade/couple decades, the rich got incredibly richer. Just hoarding wealth in the top half percent, and definitely within the top .1 percent. No problems with inflation. Now you give a little money to the working class and it’s a huge issue for inflation and the economy. I’m not an economist and don’t pretend to be, but there seems to be something structurally wrong with that. As it stands today, is there a way to reduce poverty and living conditions for the low-to-middle classes without “hurting” the economy? If yes, what’s the mechanism? If not, that’s ####ed up. Previous Message Previous Message who knew it could happen? Next thing you'll tell me is that a lifelong Republican FBI director would hold multiple press conferences about his investigation into a Dem candidate but not disclose his investigation into her Republican opponent. Or that a lifelong Republican special prosecutor would find factual evidence of crimes by the Republican President but make no recommendations about criminality and then allow himself to be sandbagged during hearings about said report!
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Message Thread: | This response ↓
- Bidenomics added 366,000 jobs to the economy last month - ATL October 6, 2023, 8:07:36
- pitchbot - ATL October 6, 2023, 10:35:48
- Jerome is going to smack us around for this for sure. * - doubledown October 6, 2023, 8:54:58
- lifelong republican Jerome Powell scared by people getting jobs? - ATL October 6, 2023, 8:58:40
- POOR people. All inflation hawks are terrified by poor people getting access to money. * - doubledown October 6, 2023, 9:10:05
- This is what I don’t understand about the economy - snipes824 October 6, 2023, 9:36:42
- When rich people get more money, they don't spend it on consumer goods. Poor people do. * - doubledown October 6, 2023, 9:44:08
- Let’s go down this route, where do rich people put their money? - bigbop85 October 6, 2023, 10:49:49
- Fancy private educations for their offspring of meager intellect? * - doubledown October 6, 2023, 10:58:04
- “Fancy” too strong a word, “meager” not strong enough* - Herman Blume October 6, 2023, 11:44:25
- ha! But seriously - bigbop85 October 6, 2023, 11:43:41
- Vacations, tax avoidance schemery, stonks, real estate, etc. Stuff that doesn't always show up - doubledown October 6, 2023, 11:58:01
- Some thoughts - bigbop85 October 6, 2023, 12:20:18
- "I just inherently don't trust the government to be a great "transferrer" of wealth" I agree - Desert October 6, 2023, 12:40:03
- That's a fair assessment, one point however - bigbop85 October 6, 2023, 12:52:28
- So, and I ask this sincerely, what is your solution to help stem single parent households?** - KingTalkyTiki October 6, 2023, 14:41:18
- You keep bringing up the CPS talking point without bringing up the host of things that CPS - Chilango October 6, 2023, 14:36:00
- Respectfully, that's a conservative talking point that is completely false. - Desert October 6, 2023, 13:04:44
- You know what leads to fewer single parent households? - Sounder October 6, 2023, 12:54:14
- We're just talking about why rich people's gains don't lead to inflation as much as poor and middle - doubledown October 6, 2023, 12:23:37
- he walked right into that one.* - VIV October 6, 2023, 11:30:42
- Well, the poor/mids actually spend the money they make, so you can imagine that giving - ATL October 6, 2023, 9:42:40
- Strike fever isn’t helping* - JeffFrank October 6, 2023, 9:26:46
- "Higher for longer"* - bucktownillini October 6, 2023, 8:46:48
- Bad news for mortgage rates* - JeffFrank October 6, 2023, 8:36:01
- Does the iPhone forbid copying original URLs? - complainant October 6, 2023, 8:17:16
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